Will Republicans end social security?

[RoshawnMarkwees]

You do realize that some one has to do those lower paying jobs?
You do realize that not everyone's goal is getting rich.
Some people want to spend more time raising their childern, or spending more time with family.
ITS AMERICA. Do we not want to help take care of our older population when they can no longer work?
OR go back to the good old days, where you work till you drop?

Either or, let the choice be honest. If people are forced to pay into SS, give them their money back when due. If not, it’s on themselves to create their own savings.
Remember, those hard workers retiring today have already been forced to pay into SS all along. Democrats who spent that money need to give it back.

 

[MarathonMike]

It comes from Kathleen Romig Director of Social Security and Disability Policy.

https://www.cbpp.org/blog/setting-the-record-straight-on-social-security

SInce Musk/Trump claim their are millions over the age of 100 receiving benefits when in actually the number of 100+ people receiving benefits were 89,106 and the census had a little over 90,000 people in the US over 100. She's probably pretty close.

WW

I believe we have enough proof that Federal "self evaluation" has no credibility. I would put my money on what DOGE is finding over what some entrenched government official says.

 

[Lesh]

I believe we have enough proof that Federal "self evaluation" has no credibility. I would put my money on what DOGE is finding over what some entrenched government official says.

Why?

Elmo’s mantra is “be bold.. break things “

That’s like some guy walking into your house and telling you how fucked up it is… and then smashing everything. As he walks out the door he says
“it’ll be so much better after YOU fix what I broke”

 

[WorldWatcher]

I believe we have enough proof that Federal "self evaluation" has no credibility. I would put my money on what DOGE is finding over what some entrenched government official says.

Well we know that Musk/Trump are lying their asses off.

So let's get professionals in. Bring in creditable auditing and IT firms for a review. And no, Musk and "Mr. Big Balls" are not creditable. I'm talking an external professionals like KPMG - global professional professionals that provides accounting, tax, and advisory services.

WW

 

[dblack]

Actually thank you. Honest replies. That's appreciated.

Regarding "partial payback". First I've never seen this in a proposal. Would this "partial back":

• Be only the Employee base portion?
• Both the Employee and Employer base portion?
• Or would it be one of those but with interest? What interest rate and compounded how often?

I see no difference between the employer portion the employee portion. It's all compensation that was diverted from the employee to the state.

As far as the interest, as long as it's consistent for everyone, and makes some effort to recognize the nominal purpose of the program (ie an "an investment account" rather than "just another way to tax people"), I'm sure we can come up with something reasonable.

Since current revenues pay current benefits, those revenues couldn't be used for the "payback" so where would the money come from to pay the payback? Or would it just be added to the debt?

I covered that in my last post. We'd need to raise taxes, or radically cut spending elsewhere, to get out from under Social Security. At least initially.

 

[Frankenstein]

That myth is already debunked

Wrong!

 

[RoshawnMarkwees]

Well we know that Musk/Trump are lying their asses off.

Pot calling the kettle black.

 

[Frankenstein]

#1 "Huge" is a qualitative term not a quantitative term.

#2 SS Retirement is not filled with a "huge" amount of fraud. About 99.7% of monies paid are accurate.

#3 Musk/Trump claims millions over the age of 100 getting benefits (or imply it to get the cultists riled up). But the fact is that the SSA has procedures to automatically cut benefit payments at age 115. So no, there are no civil war era persons getting benefits like he said/implied.

#4 Musk/Trump claims millions over the age of 100 getting benefits (or imply it to get the cultists riled up). But he fact is that SS Retirement Benefits were paid in December 2024 to 89,106 people and the Trump Administration census of 2020 put the number of persons in the US over the age of 100 at about 92,000.


WW

Does that include SSI disability?

 

[Lesh]

I see no difference between the employer portion the employee portion. It's all compensation that's diverted from the employee to the state.

As far as the interest, as long as it's consistent for everyone, and makes some effort to recognize the nominal purpose of the program (ie an "an investment account" rather than "just another way to tax people"), I'm sure we can come up with something reasonable.

I covered that in my last post. We'd need to raise taxes, or radically cut spending elsewhere, to get out from under Social Security. At least initially.

Employers are forced to pay that SS tax now. Yes it is “part of the compensation package” but WON’T be if the mandate that they pay it is removed

 

[WorldWatcher]

Does that include SSI disability?

No, the claims are about SS Retirement, not disability.

Oh and before you go down that road, the SSA checks for Medicaid/Medicare activity and if there isn't that raises flags. Someone over 100 and getting disability would have medical care activity.

WW

 

[sealybobo]

People who were forced to fund the program should get back the money they paid in plus reasonable interest. Other than that, young people should be "allowed" to opt out of the program and invest their money as they see fit.

Hey, my dad took the Ford buyout. He was only there 20 years so it was only a little over $100K. But he figured if he invested it, with interest, he's better off with the buy out.

I try to explain to him that he made the wrong decision. He's 80 now. Had he died in his 70's, then maybe the buy out was a better decision. If he died in his 60's for sure the buy out was wise. But he's old enough now he would have got more had he just kept the pension.

I would take the social security buy out. Add it to my already existing 401K. Let's say they offered me $100K. Would that be enough? Hmmm. Probably not. That's only about 4 years. They'd have to give me $400K. That's about 16 years worth. But they would never. So let's say they offer $200K. I'd be tempted. Especially if they scared us into thinking ss might go broke and anyone who doesn't take the buy out will lose everything.

 

[Frankenstein]

No, the claims are about SS Retirement, not disability.

Oh and before you go down that road, the SSA checks for Medicaid/Medicare activity and if there isn't that raises flags. Someone over 100 and getting disability would have medical care activity.

WW

I am specifically speaking of SS disability, people gaming the sytem

 

[WorldWatcher]

Pot calling the kettle black.

I'm game.

Let's bring in a professional tax, auditing, and finacial services private entity in. Do an audit of how many people received SS Benefits who are aged 100+.

Let's see whose lying to the people.

WW

 

[WorldWatcher]

I am specifically speaking of SS disability, people gaming the sytem

The claims weren't about disability. They were about SS Retirement and that there were millions over the age of 100 drawing SS Retirement benefits.

WW

 

[Lesh]

Hey, my dad took the Ford buyout. He was only there 20 years so it was only a little over $100K. But he figured if he invested it, with interest, he's better off with the buy out.

I try to explain to him that he made the wrong decision. He's 80 now. Had he died in his 70's, then maybe the buy out was a better decision. If he died in his 60's for sure the buy out was wise. But he's old enough now he would have got more had he just kept the pension.

I would take the social security buy out. Add it to my already existing 401K. Let's say they offered me $100K. Would that be enough? Hmmm. Probably not. That's only about 4 years. They'd have to give me $400K. That's about 16 years worth. But they would never. So let's say they offer $200K. I'd be tempted. Especially if they scared us into thinking ss might go broke and anyone who doesn't take the buy out will lose everything.

Whether any of that is true… where do you suppose that buyout comes from?

 

[dblack]

Employers are forced to pay that SS tax now. Yes it is “part of the compensation package” but WON’T be if the mandate that they pay it is removed

Why wouldn't it? From the employer's perspective, it makes no difference whether the money they're paying for an employee goes into the employee's pocket, or is snatched up by the state. Their outlay is the same either way. The same bottom line.

 

[MagicMike]

Do you think everything happens instantaneously? You are talking about a massive bureaucratic mess that has been built up over decades. How about give them some time?

You are a trusting little cultist aren't you?

 

[RoshawnMarkwees]

I'm game.

Let's bring in a professional tax, auditing, and finacial services private entity in. Do an audit of how many people received SS Benefits who are aged 100+.

Let's see whose lying to the people.

WW

You have the world’s most successful businessman in charge of finding and eliminating government fiscal waste and you think someone else would be more qualified and objective. You’re nothing but a partisan phony.

 

[Frankenstein]

The claims weren't about disability. They were about SS Retirement and that there were millions over the age of 100 drawing SS Retirement benefits.

WW

How are they even still on the rolls

 

[Frankenstein]

You are a trusting little cultist aren't you?

For wanting responsible spending, and cutting waste, I am loving being part of the cult.